Gideon Spanier
Jun 27, 2017

No-one is feeling comfortable in media agencies, MEC and Maxus chiefs warn

No-one in global media agencies is feeling comfortable and every company needs to think about transforming itself, the bosses of MEC and Maxus have said in a joint interview.

Tim Castree, the global chief executive of MEC, who is merging his agency with sister WPP shop Maxus to create a new company, told Campaign: "No-one is sitting around comfortably right now."
 
He warned that media agencies need a "sustained organisational effort" to change because "it is a very contested time in our industry" with many new entrants and challengers.
 
Castree said media agencies have got to move from media planning and buying to embrace content creation, performance marketing and e-commerce.
 
"We have all the capabilities," he said, but they are "smaller than they need to be", explaining how he wants the new merged MEC-Maxus business to win more clients.
 
Lindsay Pattison, who is moving from global chief executive of Maxus to become chief transformation officer at Group M, the operating company for WPP’s media agencies, said the merger made sense because it would give the new company over $1bn (£790m) in revenues and "give us the resources and talent" to compete as a top five global agency.
 
Pattison admitted driving transformation was difficult but said: "I love how hard it is."
 
Group M has previously said the MEC-Maxus merger is partly about making cost savings and signaled that jobs could be lost. 
 
(This interview first appeared on www.CampaignLive.co.uk)
 

 

Source:
Campaign India
Topics

Related Articles

Just Published

6 minutes ago

Creative and media deliver 'stronger performance' ...

Organic revenue decline of 7.5% in the last quarter of 2020 puts Havas in the middle of the holding companies to have reported so far

27 minutes ago

Campaign India’s Mental Health Survey: The panel ...

Second part of the survey features a discussion from industry seniors

32 minutes ago

Weekend Laugh: Producer's Diary by Dalbir Singh

The co-founder of Kiss Films presents his weekly sketches for Campaign India

11 hours ago

Opinion: How the guidelines for social media helps ...

The author discusses how the voluntary verification mechanism can help bring about transparency in social media and influencer marketing campaigns, thereby improving ROI for advertisers